TrueAccord Announces Organizational Changes to Executive Leadership Team

By on August 3rd, 2021 in Company News
TrueAccord Blog

Digital-first debt collection fintech readies for continued B2B and B2C expansion with strategic leadership reorganization

TrueAccord Corporation, a debt collection company offering digital-first and consumer-centric solutions for resolving debts, today announced changes to its executive leadership team to support a planned expansion of products and services. The changes include Sheila Monroe, who previously served as CEO, moving to a new role as chief growth officer for TrueAccord’s parent company, One True Holding Company, with Mark Ravanesi, formerly chief revenue officer (CRO), filling the role as newly appointed CEO of TrueAccord. One True Holding Company also named a chief marketing officer (CMO), Naama Bloom, to drive integrated marketing as the company looks to engage new and different clients.

After two and a half years building and growing TrueAccord as CEO, Monroe takes on a new strategic role as chief growth officer for One True Holding Company, allowing her to tap into her vast global network and industry knowledge. She will focus on strategic opportunities to grow the organization through partnerships, regional expansion and other tactics. With more than 20 years of financial and recoveries experience, along with her ability to navigate complex regulatory environments, Monroe has been a key driver of TrueAccord’s growth and execution. 

Assuming the role of CEO at TrueAccord, Ravanesi will manage overall operations and resources while leading the development and implementation of the company’s strategy and mission. Since joining TrueAccord in 2019, Ravanesi has served as vice president of client success and CRO, playing integral roles in growing the sales organization and leading the company’s analytics and client-facing teams. He is a seasoned industry leader with more than 20 years of experience in the collections space, focusing on strategy, analytics, policies and strategies. Ravanesi’s previous roles include director and leadership positions at Barclays Bank, Discover Financial Services and GE Money.

“​​This is an important step in the evolution of TrueAccord and the whole OTHC group of companies. We will leverage Sheila’s industry expertise in a new, strategic capacity to continue our overall growth trajectory,” said Ohad Samet, co-founder and CEO of One True Holding Company, TrueAccord’s parent company. “Second, we get to apply and expand Mark’s successful mission- and results-oriented leadership in sales to the larger TrueAccord organization, accelerating the tremendous growth we’ve seen in the past years.”

One True Holding Company will continue its long-term success with new products and services targeted to a broader client and customer base, offered by TrueAccord’s sister companies. In alignment with its growth plan, One True Holding Company named Bloom as CMO to create and oversee a comprehensive marketing strategy that will promote brand recognition and deliver offerings that have value for customers, clients and business partners. Bloom brings more than 20 years of marketing experience as a brand builder, entrepreneur and business leader for Fortune 500 companies and startups.

“One True Holding Company has introduced best in class machine learning and digital-first debt collection solutions that consumers love with TrueAccord. Adding a marketing leader to our organization is an important step in doubling down on our trusted brand with clients and consumers alike,” added Samet. “Naama has tremendous experience building marketing teams and building iconic brands that consumers can trust as part of their everyday lives. I am thrilled about bringing in her leadership and expertise to connect the TrueAccord brand, among others, to our business as we move into new verticals and markets.”

The One True Holding Company leadership team also includes Gene Linetsky (chief technology officer), Noah Barr (chief financial officer), Laura Marino (chief product officer), Courtney Graham (chief people officer) and Nadav Samet (chief innovation officer), with Charles Deutsch serving as general manager of the financial services subsidiary True Life Solutions, which launched the game-changing consumer product, Engage.

Over the past year, One True Holding Company and its subsidiaries added more than 200 new hires with plans to continue expanding through 2021, with open positions across engineering, product, sales, client services, marketing, legal and operations. See all open positions and apply here: https://www.trueaccord.com/about-us/careers/  

About TrueAccord

Founded in 2013, TrueAccord’s data-driven debt collection platform is disrupting the collection industry by helping businesses collect more debt online than traditional methods. TrueAccord’s platform is powered by machine learning with a decision engine that analyzes consumer behavior and delivers personalized and empathetic consumer experiences. By communicating at the right time in the right channel with payment options that meet consumer needs, TrueAccord provides exceptional recovery rates for top 10 financial institutions, debt buyers, lenders and technology companies. TrueAccord empowers many of the estimated 77 million consumers who are in debt every year to get on a path to better financial fitness. To learn more, go to http://www.trueaccord.com.

About One True Holding Company

One True Holding Company is a technology company providing business- and consumer-facing solutions in the consumer debt space. Subsidiaries include TrueAccord, which offers machine learning-based, digital- and mobile-first servicing for debt in collections and recoveries, and True Life Solutions, which offers a SaaS platform that consumers can use to contact collectors and creditors digitally.

TrueAccord Talks: Fintech Disruption in 2021

By on July 15th, 2021 in Industry Insights, Industry Interviews

Halfway through 2021, e-commerce and consumer spending continue to see the impact of government stimulus payments while consumers look for new ways to invest and leverage their money. Simultaneously, all sectors of fintech grew during the pandemic, and this growth has not shown signs of stopping. Investment and lending platforms have grown in users by the highest percentage during the pandemic — with increases of 23 and 25 percent, respectively (McKinsey).

With the digitization of banking and financial services now firmly part of our new normal, is “disruption” still possible in fintech in 2021? TrueAccord co-founder and CEO, Ohad Samet, recently sat down with Julie VerHage-Greenberg of Fintech Today to discuss what the next horizon of fintech disruption will look like — and how financial institutions of all types can stay ahead of the curve and create groundbreaking solutions this year.

Watch the full “TrueAccord Talks” episode for more insights, but key trends to watch in fintech disruption in 2021 include:

  1. Solving “structural problems”: Fintechs, unlike many traditional financial services companies, are not just putting old products online and calling them digital, but rethinking the approach to existing problems and building new, better solutions.
  2. Digitization for customer experience: While many companies have focused on digitizing the customer experience, those that haven’t may begin to feel the pressure to adapt. With digitization increasingly being driven by consumer demand and expectation, financial service providers that don’t integrate the consumer experience into their offerings will lose out to those that do.
  3. Affordable financial services: With so many new fintech players in the industry, competition and innovation continue to spur more efficient and affordable services for consumers. Old products will be replaced with new banks, payment options and wage access, and more will focus on credit care and access to cater to consumers.

TrueAccord Featured in Aite Group’s Spotlight on Disruptive Fintech

By on July 1st, 2021 in Company News, Industry Insights
TrueAccord Blog

In a recent report by the Aite Group, TrueAccord was featured in the inaugural edition of the “Retail Banking & Payments Fintech Spotlight”, which highlighted disruptive fintechs with a strong focus on technologies that improve the customer experience. Analysts from Aite Group selected the six featured fintech vendors exclusively based on their level of innovation and their interesting approaches to wider business challenges facing the retail banking and payments market from both bank and customer perspectives.

The key differentiator making TrueAccord an innovative fintech disruptor? Not just taking an old system and making it digital, but using a customer-centric approach and machine learning engine that caters to each individual’s needs and seeks to fundamentally change the way consumers manage their debt. 

TrueAccord directs consumer focused messages to their preferred communication channel at the right time, all in line with federal and state requirements. With automated communications and the consumer’s ability to self-serve, TrueAccord collection agents can service 80,000 accounts at a time, compared to the typical 1,000 to 2,500 accounts that a traditional agent manages on behalf of the financial institution client. In addition, TrueAccord has found that allowing the consumer to propose their own payment arrangements within the institution’s approved parameters makes it 50% less likely that they will break that payment agreement. 

“Taking an existing process, especially one that is historically not consumer-friendly, and overhauling it from the ground up to actually benefit consumers is disruptive in the best way,” said Leslie Parrish, Senior Analyst, Aite Group. “While many companies focus on the consumer experience during the loan application process, very few bring that same attention to providing a consumer-friendly digital-first experience to the collection of that debt. TrueAccord’s unique approach to debt collection serves as a catalyst for transforming the collections industry.”

Excerpt from “Retail Banking & Payments Fintech Spotlight”:

The process of collecting on consumer debt is in need of a serious update, and TrueAccord distinguishes itself as a true stand-out in this industry. Together, the company’s three offerings provide a comprehensive solution set for both financial institutions and consumers. Consumers have significant pain points in dealing with unwanted collector calls and would much prefer to deal with these unpaid debts without having to speak with an agent. TrueAccord’s Recover and Retain platforms collectively provide financial institutions with a way to effectively communicate and collect on accounts at varying stages of delinquency in a way that is hospitable to consumers.

To read the full TrueAccord spotlight, download a copy of the report here.